James A. Jr. Sabia Sells 36,086 Shares of Constellation Brands, Inc. (NYSE:STZ) Stock

Constellation Brands, Inc. (NYSE:STZ) EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the transaction, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Constellation Brands Stock Down 1.9 %

STZ stock opened at $237.51 on Monday. The business has a 50-day moving average of $244.13 and a 200-day moving average of $248.01. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock has a market capitalization of $43.12 billion, a P/E ratio of 76.86, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $3.70 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on STZ shares. Morgan Stanley cut their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Evercore ISI cut their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Truist Financial decreased their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Hedge Funds Weigh In On Constellation Brands

A number of large investors have recently modified their holdings of STZ. New Millennium Group LLC bought a new stake in Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. LRI Investments LLC acquired a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Constellation Brands in the second quarter valued at $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.